Monday, November 10, 2008

didn't trade

didn't trade Friday or Monday....on Monday, my NUE calls were profitable in the morning....wish i had sold them.

it's not looking so good....i have a feeling Wed./Thurs. we might get a new rally.

New JOB starts Wednesday.

Thursday, November 6, 2008

ohhh man or i need my mommy day


yesterday afternoon i had a bad feeling upon seeing the market action. it seemed very bearish, plus we were majorly overbought. my gut said if i am to buy, buy at close. i broke that rule, as you know, and bought AAPL midday. markets sank badly towards the end of the day.

instead of doing cool analysis at the end of the day...and i don't know what i was thinking....i very rashly went out and bought calls on BNI, RIMM and NUE. i used up all my money. one of my rules is never to use up all of your money. they were good buys, all at the bottom of the day...i figured worse case scenario i get a little bump and break even the next day.

unfortunately, after hours the markets kept on sinking. maybe the ECB / BOE would cut rates and that would jump start a rally. but, i had a bad bad feeling. there is a worse case than the worse case i'm thinking...but i'm trying really hard not to think too much !!

woke up at 8:30am after a restless night's sleep. the futures are all down...bad, bad and bad. please God I pray, a little bump and i'm out. we open low, rise a very little bit and then slam down. no please remember i couldn't even break even on my positions...we opened for all purposes atleast a $1 lower on all stocks...for a brief 3/4 minutes i could have sold at .5 - 1 losses...if i had just one position, but with 3 positions i panicked and said "how bad can it get".

well...we had another 500 point down day and except for brief moments it went down in a straight line. complete annihilation, especially BNI and RIMM.

well at 10am i didn't really know this...i still had hope and i really wanted i throw on some clothes and drive to Murky, where i take a leisurely coffee break....what's the big will bounce back...look at the sky....look at the cars...a smoke...some music...finally i get the comp out...oh we are only 200 points down in a straight line....this is it...we will bounce back...more cigs, more cars, more shitty sky....look again...straight line down...i got another towerz....don't think....peek...straight down....double cappucino...that's 3 shots food....i have so much coffee in my system i think i will explode if i even look at the girl by my side...avoid all human contact...peek at the dow...eeks...i'm a worthless piece of shit...chain smoke...nice sky..after all at the end of the day, when you have no money...there's always that fucking beautiful sky.

so everything is 6-8% down....all our hopes at this point lie on tomorrow's employment numbers being not so bad....bad will do, but it they are catastrophic bad...we are going down big time...and no magic wand is going to be saving my soon to be "shit house poor" TM ass this time.


man i was so brain mono lined, you know like when your heart stops...except my brain did was going so didn't even know how fast it was going...anyway, i managed to get home and through some small glimmer of self persevation... i thought, NO!.... let's not get drunk, let's cook some food and i cooked the worst dish of pasta ever...because in between i started smoking cigarettes and re-planning the US financial system....and the noodles turned to soggy mush...over boiled the salmon (that's the only meat i had) into shriveled pink stuff....the only sauce i had was a can of crushed tomatoe's, been in the fridge for 2's not enough...add some water till everything's swimming....boil some was a bite and i threw it over the railing...creating a mini Gobi desert in the vegetation below...then i took a shit...and off i go to get drunk.

don't you wish you knew me.

and oh yeah! NO TRADES FOR TODAY.

Wednesday, November 5, 2008

shitty day

i stupidly drank too much last night, celebrating the election victory and it was a real challenge to wake up this morning. which is why i dumped my BNI puts at the open. made nice coin on them, but if i had held to the close....

then i went back to sleep and woke up at 1:30pm.

the market looked awful. my gut said that we would sink all through the day. but, i broke my discipline and bought some AAPL at 106. the market absolutely tanked as i predicted and my AAPL calls are now in deep water.

i bought some NUE, RIMM and BNI at the close, hoping for a bounce tomorrow. they are at low's of the day...good prices, but not fantastic.

i have a feeling we might open up and trend lower before bouncing up for good. or we could open lower and bounce up....which would not be good...that's a bearish signal.

Tuesday, November 4, 2008

busy day

i had a job interview at 1pm so that was majorly messing up my day. i had to leave at 12pm to get there and god knows when i would get back.

i still had my RIMM position from yesterday and that was looking to be some major damage control. down 1 at start and RIMM quickly ramped up. eeks....i had been looking to short the gap up and went double short RIMM. usually, in the past this has spelled trouble, but the trades were a day apart and i really had a good feeling about today. i also shorted MON, albeit not at the best price. i had the price target 94.25 set but got greedy.

i was watching the ticker on RIMM and it was strong. the entire damn market except for AAPL was strong. there was hope. all of sudden around 10:15, RIMM broke and i was able to liquidate my positions. i took a loss overall, but now it was a bearable loss.

i was hoping for MON to break majorly, but it just wouldn't budge. i had about +700 on that trade, but i got scared, very rightly so and closed it for +200. very good call on my part. i'm a day trader, if the position doesn't feel right, let it to fight another day.

i still thought MON was overbought and reshorted it around 94 and a little later i doubled down. now time is running's 12am already and MON just won't break. i could collapse the whole position for a small gain or do what? the unthinkable. go to my interview, come back and trade it. i must have been crazy. but, get this i set a sell level about a dollar lower, to where i thought it might break for the day at least and go to my interview, where they eat up my head and i tell them i have to go, drive like crazy through DC and jump to my computer and sold at the level i set and that was the LOW of the entire afternoon. i couldn't have gotten a better price. man, i really rock.

that is some super fine day trading, folks...killer stuff.

i watched the market some more, later afternoon has been fluctuating like crazy and i'm not really digging that today, but BNI shows unusual strength and i dip in for a short. i set a sell for +0.5, but it won't budge beyond +0.4....illiquid stock options are so hard to trade. no matter, it's a good position and tomorrow is a new day. i usually don't like to hold overnight, but volatility is low these days and the overall sense of the market is pretty clear. the upside on these puts i bought also seems somewhat limited and the level of risk is not too much. overnight is okay.

btw, i now have a job, starting Thursday....i wasn't so happy about it earlier...goodbye to sleeping late....but i need some stability...let's just drink some beer and get happy :)

November 3, 2008

i was determined to get rid of all my dogs. i thought of various price levels i would sell them at and what the resulting balance's would be of my account. it did not look too good.

luckily, the day was in my favor...not massively....but enough.

i gamed MON perfectly and sold at 10:30am at the low of the day....literally the stock did not go lower than .30 cents from this point. you may not know, but with options that is very hard to do.

i was a little greedy on my AAPL and IBM though. i decided to hold them longer, since MON was 20 puts and the majority of my exposure. my risk levels were cut now.

i then stupidly decided to short some RIMM....the buy itself wasn't that bad, but multitasking stocks is a bad idea. the longer you watch the ticker of a kind of gets into your blood and after a while you get really good at gaming it. the brain works in mysterious ways.

later in the day i got rid of my AAPL. the IBM, by the way, i had bought 2 days earlier and then slept late the next day and completely missed my chance to make a profit on it. all i had to do was wake up. pathetic.

oh well, now for a new start....somehow i'm not so enthused.

seem's like i will be getting that State Dept. job. Easiest interview I ever had. I basically told them I was over their head and the next thing i know they were falling all over me. they asked me like 3 technical questions. i rock.

October 30, 2008 - awesome trading skills display

man i rocked. i woke up and was determined not only to salvage my losing positions but also to daytrade with the measly amount of money left. enough only to buy 8 calls or puts on any of the stocks i can see the chart for yourself...i kicked ass....ok, let me break it down for you:

10 mins = 1100
40 mins = 1400
40 mins = 500
35 mins = 0 (atleast i didn't lose money)
2 mins = 500

i basically raped IBM and AAPL at will.

my other bad long positions still stay on the books.

October 28, 2008 trades

I believe the top 2 AAPL trades and the MON trade were very successful again...greater than +1 profit magnitude individually.

Those trades at the bottom, now there's where i screwed up bigtime. The market ran up big time in the afternoon from 400pts to 900pts and all of those where bought at the 400pt range. I just over leveraged myself like crazy and totally disregarded the market. at the end of the day i had a third sense that maybe i should cut my losses, the market didn't feel would hurt but it could get worse, but i just turned off my know it's bad when i don't watch the close.

The next day they went even higher and i did not trade. i could see that i was gonna lose a bucket load of money on these trades. the tide had turned. we just had a major bull rally and i was on the wrong side of it.

October 23, 2008 trades

The 2 IBM trades at the top were very successful. I believe I bought them around 13.

haven't been posting....why ?

here are the reasons:

1. i made a bunch of really bad calls and was near the 25K daytrading limit again. infact one day i was at about 15K...stressful. can i make money on this long term....i still think i can.

2. i was not sure if i wanted to do this fulltime. what kind of life is it sitting at home all day....RESOLUTION: i love daytrading and can do it almost everyday. i have moved a couple of steps up in my love / mastery of this art :)

3. i was having a mid life crisis at the same time....not fully resolved but somewhat under control now.

sadly, i just got a job....but that may be a good thing. i plan to continue daytrading and worst case scenario i get fired or quit. I WON'T QUIT DOING WHAT I AM REALLY PASSIONATE ABOUT >\ and I"M GOOD AT IT DAMMIT.